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BW Businessworld

Personalised, Automated, Banking

Goals101 Founder Visham Sikhand explains how Transaction Behavioural Intelligence accelerates business for banks. Excerpts:

Photo Credit :

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What problem were you looking to solve? 

Commerce is about transaction. We wanted to go deeper into the transaction data space and that’s what we did with the banks.

And at the end I wanted the banks to become a lot faster, being from the banking world and knowing how extremely critical they are to us all. To be candid, the process can be tedious. 

If access to this data is on a platform and it is able to intelligently communicate at fast speeds with customers, not only will the banks benefit, but customers would also like banking a lot more. 

So, personalised, automated and delightful banking was my thing. That is what I wanted to do is through this platform, using access to banks’ data in a compliant way. That was the thought process.

How do you see this growing? 

We have partnered with two of the biggest players in the banking space, Visa and MasterCard. Visa, is in the senior region, which is Central Eastern Europe, Middle East and Africa. While MasterCard has partnered with us for the South Asia region. 

Once we had the banking partners, we extended our outreach. We talked to a lot of brands and merchants, who want to reach customers through the bank. For example, Starbucks wants to talk to a coffee drinker in a bank who can be a potential customer, so they can send out a communication specifically to a said customer in a personalised way. 

So, these two big boys, Visa and Mastercard, are actually making us go to the market. So that’s how we’re going. We already are in four different countries. We expect to grow into multiple countries with the biggest banking players in each of them.

How do you build scale?

The scale is coming through the global players, both Visa and MasterCard. We’re looking at some other partnerships, as you may have seen on some media sites. Yes, we are looking at some parrtners, which you may hear about soon. Till that happens, Visa and MasterCard are our means to go to the market.  

Do you have a wish for yourself and your company?

Money is not my main motivator in this company. So for me, whatever we get out of this is about a certain social dream that I have. 

The market can have structured players or unstructured players. We need to build for both, and in India you can learn everything. 

For the company, I want to build a product that is global, coming out of India. Very limited product companies do that. We are in no hurry of an acquisition or an exit. We are here to make this a product which every possible bank in the world would like to put into its system.